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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
The tribunal confirmed that in search assessments under section 153A, no separate notice under section 143(2) is required. The assessee’s procedural objection was dismissed, aligning with Delhi High Court precedent.
The ITAT ruled that additions under Section 69 based solely on third-party statements and unverified documents cannot stand. Key takeaway: credible, corroborated evidence is essential for tax assessments.
The Tribunal remitted the case for fresh adjudication after observing that the CIT(A) did not decide the matter on merit. Assessee was directed to furnish evidence to substantiate exemption of corpus donations under section 11(1)(d).
The Tribunal held that section 115JB is not applicable to banks constituted as ‘corresponding new banks’ under the Banking Companies Act. As a result, the penalty under section 271(1)(c) for disallowance of bad debts became unsustainable. The ruling clarifies that MAT provisions cannot be applied where the statutory scope excludes the assessee.
The CIT(A)’s assumption of delay was corrected, restoring the appeal for adjudication. The ruling reinforces that statutory timelines are calculated from actual notice, ensuring fairness in tax appeals.
The Tribunal held that reopening notices and assessment orders under section 148 issued in the PAN of a deceased person are invalid. The ruling reinforces that reassessment proceedings require notices to be addressed to the correct taxpayer to maintain legal jurisdiction.
The assessee’s appeal succeeded in deleting the penalty under Section 271(1)(c) as the additional income was already declared in the return. The court held that initiating penalty proceedings on disclosed income exceeds the AO’s jurisdiction and is impermissible.
The Tribunal held that once sales are accepted in audited books, they cannot be reclassified as unexplained cash credits. The addition of ₹41.74 lakh was struck down as it caused double taxation.
The Tribunal ruled that reassessment under section 147 was invalid where the basis of information stemmed from a third-party search. It held that such cases must mandatorily proceed under section 153C. The key takeaway: search-linked data cannot justify a section 147 reopening.
ITAT Pune ruled that a primary credit cooperative society can claim deductions under Section 80P(2)(d) for interest and dividend income from other cooperative banks, overturning Revenue’s appeal.
